Jubilee and BHP Billiton to share airborne survey in Madagascar

The world's largest diversified miner BHP Billiton and Jubilee have agreed to carry out a large-scale helicopter Versatile Time-Domain Electromagnetics (VTEM) geophysical survey over each other's adjacently held properties in Madagascar.

The survey, to be funded by BHP Billiton, will see the data from both properties shared with Jubilee on an exclusive basis.

Based on the results the parties may agree to enter into a joint agreement for further development of any or all of their propertie.

BHP Billiton's Marolambo and Jubilee's Ambodilafa concessions together form a large property, which is part of an extensive ultrabasic system. The properties are located some 160 kilometres southeast of the Madagascan capital Antananarivo.

The VTEM method is state-of-the-art and is acknowledged as an excellent prospecting tool for identifying anomalies related to massive sulphides.

Jubilee CEO Colin Bird said: “We are delighted that BHP Billiton has undertaken to fund the airborne geophysical programme and subsequent interpretation of the data.

“This affirms our view that Madagascar is highly prospective for base and platinum group metals and this activity, together with our Londokomanana project, means that Jubilee is developing a strong strategic position in Madagascar.”

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